CorporateCorporate BuzzNews

Global Investors Summit kicks off in Indore

By Pervez Bari

Our Correspondent, Bhopal

indore smt1

Indore: The three-day Global Investors Summit-2014 kicked start here at Indore, the financial capital of central Indian state of Madhya Pradesh, on Wednesday with the announcement that the state government will constitute a separate ministry for medium, small and micro enterprises, (MSMEs), and Laghu Udyog Samvardhan Board to be headed by the Chief Minister.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan announced a slew of measures to simplify the aspects of doing business in t5he state. He said all the approvals and licences will be issued within a fixed timeframe and action will be taken against officials responsible for delays. The government will also make the process of applying for approvals and licences online in all the major departments such as Pollution Control Board. Also, the industries will not have to apply for renewal of licenses or permissions every year but only once every five years to 15 years depending on the industry. “We want to free the industry from the inspector raj”, he said.

Indore Sumt1

In a bid to promote entrepreneurship, the Chouhan said the government will give bank guarantees to make it easier for the youth to avail loans ranging from Rs. One million to Rs.10 million for setting up an enterprise. He also announced setting up of Rs. One billion venture fund to provide equity capital for start-ups with innovative ideas.

The first day of the summit was dedicated to MSME convention wherein Union minister for MSMEs Kalraj Mishra was the chief guest. While the main event formally inaugurated by Prime Minister of India Narendra Modi on Thursday.

Meanwhile, country sessions were held by four countries viz. Canada, Czech Republic, Mexico and Peru discussing various investment possibilities on the opening day.

About 500 foreign delegates are attending the summit. These include ambassadors and officials from 28 participating countries. Seven countries have given their consent to become partners in the Global Investors Summit. These countries include Australia, Canada, South Africa, Mexico, Malaysia, Czech Republic and Quebec.

Speaking on the occasion MSMEs minister Mishra announced to open 30 to 40 incubation centres to train entrepreneurs in the state and a tool room costing Rs. 1500 million. In the country, 500 district-level incubation centres will be opened, he added.

He informed that now registration of micro and small industries will be online. For this, self-certification will be made the basis. Mishra said that Madhya Pradesh has made a positive initiative by launching Make in Madhya Pradesh for fulfilling mission of Make in India of Prime Minister Narendra Modi. He said that small and medium industries are getting attracted to Madhya Pradesh because of improvement in infrastructure and state government’s industry-friendly policies. “MP’s agricultural growth is now highest in the country and I am sure that one day the state will also lead in industrial growth”, he remarked.


Presiding over the opening session, Lok Sabha Speaker Mrs. Sumitra Mahajan said that Madhya Pradesh is experiencing a unique phase of development in every sector. Mrs. Mahajan laid emphasis on quality of products of micro and small industries saying that it would enhance prestige of the state as well as country. She said that Madhya Pradesh has witnessed a unique phase of development during last one decade. Progress has been made in every sector. She stressed the need for establishment of an exhibition centre at Indore for displaying products of small industries.

Madhya Pradesh Industries Minister Mrs. Yashodhara Raje Scindia said that there are immense opportunities in the state for micro and small industries. A number of success stories have come to the fore under Mukhyamantri Yuva Swarozgar Yojana and Yuva Udyami Yojana.

Peru to sign free trade agreement with India

Peru will soon sign free trade agreement with India for enhancing export-import and investment opportunities with India and Madhya Pradesh. India and Peru have economic and historical similarities. This was stated by Peru’s ambassador Luis Miguel Kabalo Aroyo at Peru’s presentation and interactive session organised on the first day of Global Investors Summit. He informed that natural-resources rich Peru has immense investment possibilities. Copper, tin, silver etc. are found in abundance in Peru.

Peru’s Economic Consular Miguel Kabalo informed that Peru is exploring investment possibilities in India and Madhya Pradesh. Agei company of Peru is manufacturing cola drinks in India at present, which has good business in India and Madhya Pradesh.

Investment ties between Canada-India-Madhya Pradesh to be strengthened

During country session of Canada at Global Investors Summit, Canadian Trade Commissioner Mark Sylvain, Alain Oliver and Amit Shah held extensive discussions with Madhya Pradesh’s entrepreneurs on investment between Canada and Madhya Pradesh and various facilities. The three officers of Canada said that investment ties between Canada-India-Madhya Pradesh will be strengthened.

Mark Sylvain informed through his presentation that there are sufficient possibilities of cementing ties between the two country in view similarities between Canada and India. He said that Canada has got expertise in food security, energy security, infrastructure and knowledge-based sectors. His country can work in tandem with Madhya Pradesh in these sectors. Sylvain informed Madhya Pradesh’s entrepreneurs about opportunities of industries and trade as well as policies, taxation system etc. in Canada.

Quebec’s Trade Commissioner Alain Oliver offered to assist in construction of Smart Cities in Madhya Pradesh. He said that in Quebec focus has been made on manufacturing and high-tech products. He also informed about various ongoing development projects in Montreal.

Czech Republic session

Meanwhile, in country session of Czech Republic, its Director Technical J.M. Lagey, Jaro Slavira, Miloslav Staek and Jiri Janicker informed Madhya Pradesh’s entrepreneurs about industrial and commercial activities in their country. Referring to SAIPAL company, Lagey said that Skoda Auto India is successfully operating in India for last 7 years. Company’s experience here has been very good. He also informed about product range of Skoda India.

Warehousing and logistics hub

Madhya Pradesh Food & Civil Supplies Minister Kunwar Vijay Shah has said that there are immense possibilities of expansion of warehousing and logistics hub in the state since the state is situated in the heartland of the country. The Food Minister was addressing investors at the seminar “A Warehousing and Logistics Hub” during the summit in a separate session.

The Food Minister said that Madhya Pradesh has implemented Warehousing and Logistics Policy in year 2012. Under the policy, investors are given 15 percent capital subsidy and 5 percent interest subsidy. Following implementation of this policy, construction of godowns of 1.5 million MT capacity has been started in the state. He said that construction of steel silos is being promoted in the state. Construction of steel silos of half million MT capacity has been started at 10 places.

A Book “Land Bank 2014” was also released on the occasion. It contains information about 26,000 hectare land reserved for industries and other facilities in the state.

Meanwhile, at the programme, micro, small and medium enterprises were given away state-level prizes for years 2011-12 and 2012-13. First prize for year 2011-12 went to Messrs Ram Woodcraft Satna, second to Messrs Comfort System Bhopal and third to Messrs Packers Private Limited Ujjain. First prize for year 2012-13 was given away to Messrs Mica Ply Mandideep, second to Messrs United Engineering Bhopal and third to Messrs Bhanwardeep Copper Strip Limited Mandideep.



Related Articles

Back to top button